Cnan Med takes newbuild containership from Mandarin Shipping

Cnan Med takes newbuild containership from Mandarin Shipping

Cnan Med, the Algerian national shipping company, is adding a third ship to be deployed on its Mediterranean suite of services.

Andrea Fontana, partner of the company and shipping agent in Italy, told Splash: “A newly built containership has just been bought by the company in order to strengthen its market position on the routes linking Algeria to Italy, France and Spain”.

The ship previously identified as Mount Hallowes, and originally ordered by Hong Kong based Mandarin Shipping, is a 1,700 teu containership delivered in March by Zhejiang Ouhua shipyard and bought for $26m.

“She will be renamed Taman Rasset and, after some additional works, will enter into service on the regular service calling the Italian ports of La Spezia and Salerno with Algeri, Bejaia, Mostaganem, Skikda, Orano e Annaba in Algeria,” Fontana added.

Representatives from Mandarin were unavailable to comment. The $26m price, if correct, shows Mandarin achieving a feat virtually unheard of in the current market of selling a resale at in excess of the contract price.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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1 Comment

  1. Avatar
    mohamed said mostafa hafez
    May 9, 2017 at 7:45 am

    I like container ships because I serve on board as Master for more than 20 years.